Clegg to set ambitious Lib Dem target to build 300,000 new homes every year

NICK CLEGG will set out Liberal Democrat plans to build 300,000 more homes a year today.

Nick Clegg campaigning yesterday

The Lib Dems will call for the creation of 10 new garden cities in England and for the next Government to directly commission the building of private housing.

Mr Clegg will also propose the creation of a Housing Investment Bank to help provide finance for major housing developments where it cannot be provided on a commercial basis.

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Mr Clegg said: “Liberal Democrats believe everyone should have the opportunity to have a decent home at a cost they can afford.

“That’s why we have increased house building in government but we want to go much further.

“And we will help young people who want a home of their own with radical plans to help them buy or rent.”

Mr Clegg will set out proposals for a “rent to own” homes schemes allowing tenants to gradually earn a stake in their house through their monthly rental payments.

The Lib Dems also want to introduce a “help to rent” scheme to help young people with the cost of deposits in the rented sector.

On average, 160,000 new homes have been built in England over the last 20 years, well behind the number of new households.